Saskatchewan Economy Leads Nation in Retail Trade

Released on November 24, 2023

Today, Statistics Canada released September 2023 retail trade figures. Saskatchewan ranked first in the nation for month-over-month growth, increasing by 3.0 per cent, or five times the national average to more than $2.1 billion in September 2023 compared to August 2023 (seasonally adjusted).

"Retail trade growth is a key element to ensuring the province's economy continues to thrive," Trade and Export Development Minister Jeremy Harrison said. "Today's increase, coupled with reported growth in investment in building construction, is further proof that Saskatchewan has the sustainably produced resources the world needs."

The Monthly Retail Trade Survey collects data on sales, e-commerce sales, and the number of retail locations by province, territory and selected census metropolitan areas from a sample of retailers. 

Retail sales is a measure of total receipts at stores, or establishments, that sell goods and services to final consumers. 

Saskatchewan has been leading the nation in many other key economic indicators. Recently, Saskatchewan recorded the highest GDP growth out of all the provinces and territories at 6.0 per cent. Last week's Labour Force Survey showed Saskatchewan has the lowest unemployment rate in Canada, with 19,300 new jobs year-over-year compared to October 2022. In September, the province saw a 14.8 per cent increase in year-over-year housing starts, record population growth, and huge investments including BHP's $6.4 billion phase two expansion at its Jansen potash project.

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